EUR/JPY recovers from the two-day losses, trading higher around 156.20 during the Asian session on Wednesday. The cross pair receives upward support d
Japan's Finance Minister, Shunichi Suzuki, has reiterated the government's stance against rapid currency movements, expressing disapproval. Suzuki emphasized that the government will consider various options to counter excessive moves in the foreign exchange market.
Indeed, the Japanese Yen often sees increased demand during risk-off periods as investors seek safety. The combination of Japan's finance minister expressing concern about rapid currency moves and the overall risk-off sentiment appears to be supporting the Yen's safe-haven appeal, which could put a ceiling on the advance of the EUR/JPY cross pair.
ECB Governing Council member Tuomas Välimäki doesn't see a stagflation prospect in the euro area, suggesting a more optimistic view. On the other hand, ECB Chief Economist Philip Lane acknowledges that theThese differing perspectives may reflect the complexities and uncertainties surrounding the Eurozone's economic situation, which may act as a headwind for the Euro.
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